Time Warner’s Q3 Profit Rises on Lower Revenue; Profit Beats View, but Revenue Misses (TWX)

By Dividend.com Staff,

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Mass media giant Time Warner Inc. ( TWX ) on Wednesday posted better-than-expected third quarter earnings results, as profit rose despite a drop in revenue.

The New York-based company reported third quarter net income of $838 million, or 86 cents per share, compared with $822 million, or 78 cents per share, in the year-ago period. Excluding special items, adjusted profit was 86 cents per share.

Revenue fell 3% from last year to $6.84 billion.

On average, Wall Street analysts expected a smaler profit of 82 cents per share, albeit on slightly higher revenue of $6.89 billion.

Time Warner shares were unchanged in premarket trading Wednesday.

The Bottom Line
Shares of Time Warner ( TWX ) have a 2.41% dividend yield, based on last night's closing stock price of $43.11. The stock has technical support in the $39-$41 price area. If the shares can firm up, we see overhead resistance around the $46-$48 price levels.

Time Warner Inc. ( TWX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com

This article appears in: Investing Stocks
Referenced Stocks: TWX

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